A multi-product continuous review inventory system with stochastic demand, backorders, and a budget constraint.
Babak Ghalebsaz-JeddiBruce C. ShultesRasoul HajiPublished in: Eur. J. Oper. Res. (2004)
Keyphrases
- stochastic demand
- lost sales
- lead time
- budget constraints
- inventory control
- holding cost
- customer demand
- infinite horizon
- inventory systems
- supply chain
- optimal policy
- multi item
- single stage
- single item
- lot sizing
- expected cost
- service level
- reorder point
- setup cost
- production planning
- total cost
- inventory level
- planning horizon
- dynamic programming
- long run
- utility function
- inventory policy
- finite horizon
- order quantity
- production cost
- random variables
- sufficient conditions
- upper bound